Posted at 07 August 2025 / Categories Market Roundups
Market Roundup
• Australia Building Approvals (MoM) (Jun): 11.9%, 11.9% forecast, 3.2% previous
• Australia Exports (MoM) (Jun): 6.0%, -3.0% previous
• Australia Imports (MoM) (Jun): -3.1%, 3.3% previous
• Australia Private House Approvals (Jun): -2.0%, -2.0% forecast, 0.5% previous
• Australia Trade Balance (Jun): 5.365B, 3.180B forecast, 1.604B previous
•China Exports (Jul): 8.00M, 7.20M previous
•China Imports (Jul): 4.80M, .40M previous
•China Trade Balance (Jul): 705.10B, 756.00B forecast, 825.97B previous
•China Exports (YoY) (Jul): 7.2%, 5.4% forecast, 5.8% previous
•China Imports (YoY) (Jul): 4.1%, -1.0% forecast, 1.1% previous
Looking Ahead Economic Data (GMT)
•07:00 Swiss Unemployment Rate n.s.a. (Jul) 2.9% forecast, 2.7% previous
•07:00 Swiss Unemployment Rate s.a. (Jul) 2.9% previous
•07:00 German Industrial Production (YoY) (Jun) -0.60%, 1.20% previous
•11:00 UK BoE MPC vote cut (Aug) 8 forecast, 3 previous
•11:00 UK BoE MPC vote hike (Aug) 0 forecast, 0 previous
•11:00 UK BoE MPC vote unchanged (Aug) 1 forecast, 6 previous
•11:00 UK BoE Interest Rate Decision (Aug) 4.00% forecast,.25% previous
Looking Ahead Events and Other Releases(GMT)
• 11:00 UK BoE MPC Meeting Minutes
Currency Summaries
EUR/USD : The euro advanced on Thursday as dollar struggled to gain ground amid increasing expectations of U.S. Federal Reserve rate cuts. The move comes amid a string of weaker-than-expected U.S. data, including last Friday’s disappointing nonfarm payrolls and a soft services PMI on Tuesday, both of which have undermined confidence in the U.S. economic outlook.Fed President Neel Kashkari acknowledged the case for rate cuts, though he cautioned that inflation risks remain. His comments added to speculation that the Fed could ease policy sooner than previously thought. Traders now look to the U.S. initial jobless claims report, expected to show a rise of 3,000 to 221,000.Immediate resistance can be seen at 1.1784(23.6%fib ), an upside break can trigger rise towards 1.1874(Higher BB).On the downside, immediate support is seen at 1.1638 (SMA 20), a break below could take the pair towards 1.1549(38.2%fib).
GBP/USD: Sterling firmed on Thursday as markets looked ahead to Thursday’s Bank of England policy decision, with a rate cut to 4.00% from 4.25% widely anticipated. The Bank of England is widely expected to deliver its fifth rate cut in a year on Thursday, likely lowering the Bank Rate from 4.25% to 4.00%. The move comes amid signs of a weakening labour market, worsened by higher employer taxes and trade tensions linked to U.S. President Donald Trump’s policies.However, inflation concerns are expected to divide the Monetary Policy Committee. While most members may back a 25 basis point cut, two could advocate for a deeper reduction to support growth, and another two may argue against any cut at all mirroring the split seen in May.Markets will closely watch whether the BoE maintains its “gradual and careful” stance, interpreted by economists as signaling one rate cut per quarter.. Immediate resistance can be seen at 1.3397(SMA 20), an upside break can trigger rise towards 1.3461(38.2%fib).On the downside, immediate support is seen at 1.3255(61.8%fib), a break below could take the pair towards 1.3143(Lower BB).
AUD/USD: The Australian dollar firmed on Thursday as Australian dollar was supported by stronger-than-expected trade data. The Australian Bureau of Statistics reported a goods trade surplus of A$5.4 billion in June, sharply higher than the revised A$1.6 billion in May and well above market expectations of A$3.4 billion.Exports rose 6%, driven by a 37% surge in non-monetary gold, while imports fell 3.1%, reflecting weaker demand for industrial transport equipment, machinery, and cars. Markets largely shrugged off Trump’s latest tariff threats, including a proposed 25% tariff on India over Russian oil purchases and a potential 100% duty on semiconductor chips. Focus now shifts to the U.S. initial jobless claims data due Thursday, with consensus expecting a slight rise to 221,000. Immediate resistance can be seen at 0.6531(38.2%fib), an upside break can trigger rise towards 0.6600(Psychological level).On the downside, immediate support is seen at 0.6447(Daily low), a break below could take the pair towards 0.6410(50%fib).
USD/JPY: The U.S. dollar eased slightly on Thursday as dollar remains on back foot amid ongoing U.S. economic concerns and uncertainty over upcoming Fed appointments. U.S. July jobs data missed forecasts, with prior payrolls revised sharply lower, signaling a weaker labor market.Initial jobless claims in the United States are drawing increased attention following last week’s disappointing nonfarm payrolls report .The U.S. Labor Department is expected to report that initial jobless claims rose by 3,000 to 221,000 for the week ending August 2, while continued claims for the week ending July 26 are also projected to edge higher. Immediate resistance can be seen at 148.04(SMA20) an upside break can trigger rise towards 150.00(Psychological level) .On the downside, immediate support is seen at 146.31(61.8%fib) a break below could take the pair towards 145.40 (Lower BB).
Equities Recap
Asian equities climbed on Thursday, with Japanese shares hitting a record high, driven by tech-led gains on Wall Street, strong corporate earnings, and rising expectations of U.S. rate cuts, all of which supported investor sentiment.
South Korea’s KOSPI traded up 0.92% , Hang Seng was up 0.74%,Japan’s Nikkei 225 was up 0.65%
Commodities Recap
Gold edged higher on Thursday, supported by renewed safe-haven demand after U.S. President Donald Trump imposed an additional 25% tariff on Indian imports, further escalating trade tensions.
Spot gold was up 0.3% at $3,378.18 per ounce as of 0452 GMT. U.S. gold futures gained 0.4% to $3,445.60.
Oil prices rose on Thursday, recovering from a five-day losing streak, on signs of steady demand in the United States, the world's largest oil consumer, although concerns over the economic impact of U.S. tariffs capped gains.
Brent crude futures was up 41 cents, or 0.6%, at $67.3 a barrel, as of 0607 GMT.U.S. West Texas Intermediate crude climbed 0.6% to $64.76, gaining 41 cents.